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Sensex regains 25,000 mark ahead of Narendra Modi's swearing-in

Monday, 26 May 2014 - 10:27am IST | Place: Mumbai | Agency: PTI

The benchmark BSE Sensex regained the 25,000 mark by soaring 344 points in opening trade today on increased buying by foreign funds and retail investors ahead of swearing-in of Narendra Modi as the 15th Prime Minister of India.

Rising for the third straight session, the 30-share Sensex shot up by 344.19 points, or 1.39%, to trade at 25,037.54 with all the sectoral indices, led by power, PSUs, capital goods, auto, realty and banking sectors, trading in positive zone and rising up to 2.13%. The gauge, which earlier breached the 25,000 mark on May 16, had climbed 395.33 points in the past two sessions. On similar lines, the 50-share NSE Nifty reclaimed the 7,400-level by spurting 90.35 points, or 1.22%, to trade at 7,457.45. Brokers said persistent inflow of foreign funds on hopes that the new government led by Narendra Modi would take a series of measures to revive the country's economic growth and a firming trend in the global markets buoyed the trading sentiments here.

Among other Asian markets, Hong Kong's Hang Seng rose 0.39% and JThe benchmark BSE Sensex regained the 25,000 mark by soaring 344 points in opening trade today on increased buying by foreign funds and retail investors ahead of swearing-in of Narendra Modi as the 15th Prime Minister of India. Rising for the third straight session, the 30-share Sensex shot up by 344.19 points, or 1.39%, to trade at 25,037.54 with all the sectoral indices, led by power, PSUs, capital goods, auto, realty and banking sectors, trading in positive zone and rising up to 2.13%. The gauge, which earlier breached the 25,000 mark on May 16, had climbed 395.33 points in the past two sessions.

On similar lines, the 50-share NSE Nifty reclaimed the 7,400-level by spurting 90.35 points, or 1.22%, to trade at 7,457.45. Brokers said persistent inflow of foreign funds on hopes that the new government led by Narendra Modi would take a series of measures to revive the country's economic growth and a firming trend in the global markets buoyed the trading sentiments here. Among other Asian markets, Hong Kong's Hang Seng rose 0.39% and Japan's Nikkei was up 0.73% in early trade today.

The US Dow Jones Industrial Average ended 0.38% higher in Friday's trade.apan's Nikkei was up 0.73% in early trade today. The US Dow Jones Industrial Average ended 0.38% higher in Friday's trade.


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